Boeing (NYSE:BA) Shares Up 2.7% After Analyst Upgrade

The Boeing Company (NYSE:BA - Get Free Report) was up 2.7% on Monday after Royal Bank of Canada raised their price target on the stock from $200.00 to $230.00. Royal Bank of Canada currently has an outperform rating on the stock. Boeing traded as high as $213.95 and last traded at $216.46. Approximately 1,245,906 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 9,213,508 shares. The stock had previously closed at $210.80.

A number of other equities analysts also recently commented on BA. Wall Street Zen downgraded shares of Boeing from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Wells Fargo & Company reissued an "underweight" rating on shares of Boeing in a research report on Thursday, May 22nd. Morgan Stanley restated an "equal weight" rating on shares of Boeing in a research note on Thursday, May 22nd. Melius Research set a $204.00 target price on Boeing in a research note on Monday, March 24th. Finally, Jefferies Financial Group increased their price objective on shares of Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $209.35.

Insider Transactions at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the transaction, the executive vice president now owns 42,513 shares of the company's stock, valued at approximately $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the transaction, the senior vice president now directly owns 13,258 shares of the company's stock, valued at $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,744 shares of company stock valued at $1,511,370. Corporate insiders own 0.09% of the company's stock.

Institutional Trading of Boeing

Hedge funds have recently modified their holdings of the stock. Sierra Ocean LLC bought a new position in Boeing in the 4th quarter valued at $26,000. American National Bank & Trust boosted its holdings in Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock valued at $26,000 after acquiring an additional 128 shares during the last quarter. HighMark Wealth Management LLC boosted its holdings in Boeing by 121.6% in the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer's stock valued at $29,000 after acquiring an additional 90 shares during the last quarter. REAP Financial Group LLC increased its position in Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after purchasing an additional 65 shares during the period. Finally, Anfield Capital Management LLC raised its holdings in Boeing by 113.1% during the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer's stock worth $32,000 after purchasing an additional 95 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

The company has a market capitalization of $162.62 billion, a price-to-earnings ratio of -11.77 and a beta of 1.43. The business's 50-day simple moving average is $182.59 and its 200-day simple moving average is $175.06.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.57 billion. During the same quarter in the prior year, the company earned ($1.13) earnings per share. The company's quarterly revenue was up 17.7% on a year-over-year basis. On average, analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.

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